A Business History of India

In recent decades, private investment has led to an economic resurgence in India. But this is not the first time the region has witnessed impressive business growth. There have been many similar stories over the past 300 years. India’s economic history shows that capital was relatively expensive. How, then, did capitalism flourish in the region? How did companies and entrepreneurs deal with the shortage of key resources? Has there been a common pattern in responses to these issues over the centuries? Through detailed case studies of firms, entrepreneurs, and business commodities, Tirthankar Roy answers these questions. Roy bridges the approaches of business and economic history, illustrating the development of a distinctive regional capitalism. On each occasion of growth, connections with the global economy helped firms and entrepreneurs better manage risks. Making these deep connections between India’s economic past and present shows why history matters in its remaking of capitalism today.

Author Biography

Tirthankar Roy is a Professor of Economic History at the London School of Economics. He has published widely on South Asian history, global history, empires, and environmental history. His publications include The Economy of South Asia: From 1950 to the Present (2017) and India in the World Economy from Antiquity to the Present (Cambridge, 2012).